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Due

Due Date.

Loans. Specie. Circulation, Deposits. to banks. from banks. July 18,.. 73,068,698 7,794,046 7,101,327 32,192,770 12,863,500 11,732,000

25,.. 72,874,000 7,777,000 7,011,700 33,000,000 12,787,000 11,748,000 June 1,.. 73,424,000 7,751,000 6,913,000 32,575,000 12,735,000 10,704,500

8,.. 73,592,000 7,788,557 7,030,286 31,728,285 12,626,700 10,874,700

15,.. 73,237,000 7,780,000 7,109,000 31,477,600 12,285,500 10,541,000 “ 22,.. 73,351,000 7,697,000 7,344,500 81,350,800 12,504,600 10,914,700

" 29,.. 73,421,084 7,683,987 7,040,624 31,477,696 12,388,000 10,900,000 Joly 6,.. 78,548,918 7,744,827 7,473,800 31,509,263 12,233,000 14,891,000

18,.. 79,485,675 7,774,991 7,608,442 80,277,502 12,193,000 10,712,000 20,.. 73,4:1,000 7,684,000 7,401,500 29,287,000 13,802,000 10,154,600

27,.. 72,850,716 7,811,513 7,246,797 · 28,011,571 12,950,000 9,864,800 Aug. 3,.. 72,390,364 7,793,916 7,317,4112 28,384,096 12,655,000 9,646,000

10,.. 71,997,503 7,798,276 7,440,212 28,247,266 12,822,673 10,135,180 17,.. 71,880,078 7,813,497 7,198,917 27,898,073 12,765,527 9,603,267 24,... 71,447,520 7,780,905 7,303,757 27,510,154 12,662,321 9,573,673

31,.. 71,478,116 7,752,516 7,227,704 27,762,955 12,614,000 9,820,500 Sept. 7,.. 71,717,995 7,687,402 7,527,036 28,778,498 12,379,000 10,874,700

14,.. 75,599,232 7,591,689 7,600,556 31,143,588 13,424.000 11,097,000 21,.. 79,695,740 7,595,358 7,604,!61 34,509,214 13,565,000 11,487,500

28,.. 78,358,387 7,707,106 7,620,371 84,495,640 13,315,000 12,138,000 Oct. 5,.. 77,798,427 8,042,062 8,107,720 35,485,811 13,498,000 13,765,500

12,.. 78,160,899 7,991,999 8,399,769 35,734,989 13,909,500 14,123,700 19,.. 78,216,436 7,880,832 8,323,451 85,127,697 13,506,500 13,967,000

26,.. 78,746,728 7,850,547 8,086,072 86,682,299 13,909,600 14,123,700 Nov. 2,.. 79,378,840 7,841,33: 8,606,626 86,776,102 18,381,000 12,206,000

9,.. 78,654,017 7,975,057 9,527,161 34,557,547 12,668,000 12,172,000 16,.. 76,412,868 7,908,760 9,618,158 33,165,071 11,726,600 12,069,000

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PHILADELPHIA BANKS. PAILADELPHIA BANKS. (Capital, Jan., 1863, $11,740,080; 1862, $11,970,130.)

Due

Due Date.

Loans. Specie. Circulation. Deposits. to banks. from banks. Jan. 5,... $37,679,676 $4,510,750 $4,504,116 $28,429,189 $6,948,785 $1,994,928

12,... 87,533,757 4,544,786 4,450,676 28,018,792 6,890,968 1,848,932 19,...

37,416,694 4,549,369 4,382.520 27,877,069 7,060,847 2,275,905 26,... 37,479,712 4,672,419 4,284,947 28,773,517 6,755,980 2,638,985 Feb 2,... 37,268,894 4,562,680 4,181,503 29,231,753 6,698,210 2,909,857 9,...

37,336,367 4,319,706 4,039,918 28,062,164 6,953,215 2,518,086 16,...

37,710,851 4,272,347 3.888,185 28.759,049 7,452,563 2,432,073 23,... 37,720,460 4,276,761 3,772,781 29,342,596 7,413,249 2,703,196 Mar. 2,... 37,901,080 4,267,626 8,696,097 30,178,518 7,185,670 2,758,862 9,... 38,603,871 4,249,035 3,608,870 30,679,259 7,100,258 2,499,139

39,260,028 4,247,817 3,534,880 30,549,587 7,476,603 1,939,449 39,458,384 4,247,688 3,295,862 30,106,136 7,418,482 1,936,014

38,937,612 4,311,704 3,369,194 29,171,283 6,504,758 2,168,007 Apr. 6, 37,516,620 4,339,252 3,374,417 39,631,559 5,768,658 2,770,129 13,... 36,250,402 4,343,242 3,296,685 30,117,527 5,953,809 3,014,229

36,295,644 4,343,988 3,185,042 31,069,644 6,306,809 3,018,727

36,482,058 4,346,377 3,078,921 31,021,799 5,448,124 2,559,868 May 4,... 36,587,294 4,355,324 2,989,428 80,859,231 6.328,898 2,891,087

11,... 36,599,179 4,359 365 2,901,600 30,949,781 4,975,939 2,54 2,792 « 18,...

36,887,301 4,357,119 2,866,121 81,892,308 4,640,623 2,536,279

37,116,093 4,857,169 2,808,109 32,465,953 4.623,392 2,480,714 June 1,... 37,143,937 4,357,021 2,706,953 31,888,763 4,707,278 2,363,648

37,157,769 4,357,076 2,649,283 31,549,389 4,645,712 2,318,744 June 15,... 37,228,627 4,357,025 2,621,098 31,648,959 4,919,425 2,892,278

22, 37,219,216 4,356,744 2,596,116 31,293,830 4,868,496 2,065,918

29, 37,250,665 4,859,643 2,656,855 31,466,204 5,116,699 1,820,600 July 6, 35,936,811 4,360,745 2,564,558 28,504,544 5,060,096 1,961,814 13,

84,866,842 4,360,003 2,507,258 28,701,813 4,784,343 2,530,552 34,662,966 4,361,999 2,482,986 29,931,608 4,580,322 2,981,867

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Due

Due Date.

Loans Specie. Circulation. Deposits. to banks. from banks. July 27,... 34,517,347 4,227,448 2,418,463 80,448,430 4,805,045 8,034,009 Aug. 3,... 34,390,179 4,187,066 2,417,739 30,799,448 4,963,290 2,772,717

10,... 34,645,243 4,112,013 2,380,720 30,513,961 4,740,391 2,538,096 17,... 35,390,179 4,112,542 2,353,396 29,959,127 5,161,573 2,158,440

81,... 35,296,376 4,113,309 2,292,607 30,195,167 4,551,031 2,219,071 Sept 7,... 35,773,596 4,113,162 2,258,306 30,664,672 4,574,037 1,997,534 14,...

39,575,410 4,103,116 2,223,533 33,626,702 4,997,015 1,801,678 21,...

40,175,698 4,102,701 2,224,632 83,039,035 5,079,742 1,802,889

39,485,813 4,116,683 2,224,374 32,402,783 4,616,754 1,822,228 Oct. 5,... 38,798,830 4,227,265 2,193,000 32,288,554 4,427,097 1,976,561 ." 12,... 39,046,434 4,239,551 2,169,314 82,536,602 4,446,684 2,080,819

19,... 38,833,337 4,238,677 2,159,638 32,684,916 4,861,072 1,926,707

26,... 38,683,057 4,238,519 2,123,617 32,506,953 4,337,835 1,911,956 Nov, 2,... 89,180,421 4,164,804 2,106,284 31,805,965 4,697,888 1,943,382

9,... 38,647,125 4,167,671 2,109,521 30,812,091 4,336,929 2,061,061 16,... 87,876,645 4,168,884 2,089,990 30,732,600 4,076,614 1,925,740 The following is a statement of the amount of United States legal tender notes held by the Philadelphia banks at the dates mentioned : June 22...... $6,082,729 Sept 14......

$7,081,480 6,952,160 21.

6,573,404 July 6.. 5,953,622 28.

6,375,334 13. 6,916,751 | Oct. 6.

6,278,091 20. 7,066,593 12.

6,342,746 27. 7,903,732 19,

6,525,827 Aug. 3. 8,480,782 26.

6,775,401 10. 7,780,640 Nov. 2.

6,101,641 17.

7,530,339
9.

5,416,212
31.
6,853,5401 16.

6,186,740 7,382,810

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6

Sept. 7.

EUROPEAN FINANCES—BANK OF England Returns.—We publish this month an article in reference to the serious aspect of Furopean finances, at the present time. The drain of specie from those two great specie reservoirs, the Banks of England and France, has been carried on to such an alarming extent as to induce the directors of those two institutions to raise their rate to six per cent. This may relieve them temporarily, but as the purchase of cotton from India and other new sources is going on and must continue to go on so long as this war lasts, payment for which must be made in specie, it can be but a temporary remedy. We see that the London Economist proposes to alleviate the pressure by drawing on India for its bome expenses, etc., which fall due about six months hence—that

is,

it would

pay

what it now owes by anticipating these demands. It says : " It is to be remembered that the cause of the present difficulty is a drain of silver to the East which the Bank of France did not in due time provide against. We are suddeply obliged to send much Bullion to India from hence. Now, it so happens that the Council of India are constantly drawing motey from India. They accepted tenders for bills for £400,000 during the last week. It is the ordinary course of events that the Indian Government should remit hither money for their home expenses, which are more than £5,000,000 annually, and there is also a considerable amount of India debentures which fall due next spring. The normal state of things is, that the Secretary of State for India draws on India, where all bis revenue is received, for all he has to expend in England, whether of ordinary outgoings or for the repayment of debt. For this purpose, he must get cash from India. We confess that it does not seem to be unreasonable that the Council of India should select the present moment for drawing to an unusual extent on India; for getting more cash from thence at this moment when we have so much to send thither. The effect of this will be that the drain to India will be stopped, and that no money will be sent either way. The political demand of England on India will compensate and neutralize the commercial de-. mand of India upon England.

“ The Indian Government will be no loser by this operation. They never will be able to sell bills upon India in a better market. For the £400,000 they sold this week, the teoders within the prescribed amounted to the enormous sum of £2,830,000, and no seller can expect a better demand than this for his article. There is nothing unnatural or artificial in the operation we recommend. It is known that the cash balances in India are very ample, and that money is being remitted from thence. We do not wish a shilling to be brought home in consequence of the difficulty in our money market which would not otherwise bave been brought home. We only suggest that what money is so drawn for should be drawn for now; that there be po risk of money passing both ways; that we should compensate for the neglect of the Bank of France, which has aggravated this sudden demand to India, by calling in our debts from India somewhat quicker than we should have otherwise asked for them."

This is all right and proper, we suppose, if the Government sees fit to do it, and yet it looks a little ridiculous for a wealthy nation, like Great Britain, to be living on its next year's income. A short time ago, all London was laughing at Paris, because the Bank of France was compelled to go to the former city and buy specie enough to carry it through the crisis. Now, bowever, England would go to India (she always goes to India when in trouble) to obtain help on a similar occasion. What will she do next year? There will be the same cotton to pay for, and the same balance (if not a greater) against her, on account of it.

The following comparative table will be of interest, showing as it does a view of the bank returns, the bank rate of discount, and the price of wheat in London during a period of three years corresponding with the date of our last returns, November 4th : At corresponding dates with the week ending November 4, 1863.

1861. 1862.

1863. Circulation, including bank post bills... £21,575,597 £21,878,952 £22,783,018 Public deposits...

4,240,889 6,271,105 5,066,818 Other deposits...

13,515,241 14,979,889 18,861,178 Government securities

11,712,187 11,063,992 10,949,363 Other securities....

16,460,864 19,627,192 20,009,524 Reserve of potes and coin

8,087,459 8,976,265 6,408,458 Coin and bullion.

14,210,774 15,425,810 13,799,428 Bank rate of discount..

8 per cent. 3 p. cent.

6 per cent. Average price of wheat...

598. 5d. 48s. 7d. 41s. 2d. Subjoined is our usual table with the returns brought down to November 4th, 1863 :

WEEKLY STATEMENT.

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Public Private

Coin and Rate of Date.

Circulation. Deposits. Deposits. Securities. Bullion. Discount. Dec. 17... £19,932,360 £8,507,144 £14,033,994 £30,539,363 £15,031,658 3 pr. ct.

24... 20,150,398 8,654,499 14,306,497 31,346,731 14,870,795 3

31... 20,516,435 8,338,717 15,469,254 32,488,020 14,956,421 3 Jan. 7... 20,927,993 8,782,808 14,393,308 · 82,620,233 14,685,665 3 14... 21,018,849 4,280,730 16,772,782 31,165,076 14,102,169 4

20,893,931 4,965,798 14,993,225 30,227,086 18,855,849 4

20,771,236 5,416,863 14,414,763 30,238,866 13,611,823 5 Feb. 4... 20,709,154 6,351,617 13,852,287 29,997,233 13,692,136 6

11... 20,444,454 6,952,808 13,596,356 30,288,406 14,070,651 5
18... 19,916,496 7,413,275 13,769,276 29,890,503 14,589,222 4

25... 19,715,828 7,901,658 13,367,163 29,709,079 14,614,096 4 Mar. 4... 20,322,055 8,036,003 13,368,086 30,880,806 14,504,517 4

11... 19,801,665 8,673,899 13,282,605 31,096,327 14,328,178 4

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Public Private

Coin and Rate of Date.

Circulation. Deposits. Deposits. Securities. Ballion. Discont. Mar. 17... 20,012,331 9,343,499 13,003,088 81,482,170 14,547,812 4

24... 20,136,276 10,364,471 12,742,282 81,896,338 15,025,274 4 Apr. 1... 20,965,228 10,107,041 13,172,090 32,776,752 15,141,755 4

8... 21,279,339 6,714,109 14,829,832 80,946,784 14,963,835 4
15... 21,326,820 5,769,276 15,013,391 29,974,677 16,229,237 4

21,413,226 6,316,413 14,739,897 30,182,533 15,387,151 3

21,452,800 7,178,312 13,606,939 29,994,349 15,348,492 31 May 6... 21,376,999 7,241,739 13,122,087 29,718,602 15,141,760 3

13... 21,252,916 6,735,137 13,727,556 30,201,120 14,653,141 3
20... 21,268,815 7,610,278 13,983,654 31,484,816 14,529,451 4

27... 20,909,819 8,002,346 13,842,718 31,412,190 14,500,019 4 June 3... 21,009,892 8,779,387 13,896,450 32,389,044 14,425,553 4

10... 21,080,460 9,782,830 13,783,263 33,240,192 14,556,121 4
17... 20,655, 173 9,882,136 13,904,506 32,760,953 14,850,156 4
24...

20,525,655 10,279,053 13,809,996 32,766,459 15,026,118 4 July 1... 21,738,756 10,356,373 16,274,739 86,490,515 15,080,271 4

8... 22,038,478 6,593,834 18,595,718 34,647,336 14,824,969 4
16... 22,194,996 4,918,458 16,381,914 32,052,521 14,749,876 4

22... 22,230,612 5,386,948 14,675,625 30,975,774 14,620,872 4 Aug. 6... 22,340,809 5,577,268 13,790,855 30,289,227 14,843,185 4

12 21,937,198 5,754,863 13,578,358 29,657,833 15,040,819 4
19... 22,003,176 6,126,668 13,005,822 29,503,127 15,081,152 4

26... 21,699,696 6,713,801 12,806,568 29,322,757 15,309,384 4 Sept. 2... 21,920,722 6,818,182 18,261,612 30,180,384 16,494,219 4

9... 21,646,811 6,997,402 12,909,484 29,919,543 15,345,488 4
16... 21,487,105 7,371 510 13,484,939 30,601,940 15,461,566 4

21,515,731 8,291,491 12,869,580 80,960,809 15,582,838 4

22,312,747 9,270,486 18,717,460 33,761,403 15,277,886 4 Oct. 7... 22,545,407 9,610,087 12,893,642 38,829,764 14,856,037 4

14... 22,860,695 4,616,052 16,352,818 32,382,508 14,570,611 4
21... 22,824,466 4,437,836 15,271,262 81,028,819 14,645,2694

28... 22,600,408 4,462,168 16,015,128 30,785,852 14,437,574 4 Nov. 4... 22,783,018 5,066,818 13,861,178 31,055,887 13,799,428 6

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United States Banks.— We see that the National Bank movement has extended to the Crescent City. The First National Bank of New Orleans is now in process of organization. The contemplated amount of capital is placed at $500,000, of which about $200,000 is said to have been subscribed. This being the first bank in the Southwest under the act of Congress of February, 1863, will of course receive the Government business, which, under the large and increasing disbursements in New Orleans, ought to be of advantage to the bank and stockholders.

There has been great delay in furnishing the banks with the new Government currency, and consequently many complaints have been made. Promises bave been frequently given that it should be ready in a few days, but thus far they bave not been kept. In this connection, the following extract of a letter from the Controller of the Currency to the President of the First National Bank of New York, will be of interest:

WASHINGTON, November 13, 1863. I have been a good deal troubled about the delays that have occurred in the preparation of the National Currency, but I am now quite hopeful that those delays are about over, and that we shall be ready to commence the delivery of notes to the banks by the 1st proximo.

Yours truly,

H. McCulloch, Controller. The books of subscription to the capital stock of the Five million NaVOL. XLIX.-NO. VI.

30

tional Bank of this city were opened on the 23d of November, at the office of the United States Trust Company. The capital of this bank, it will be remembered, is to be $5,000,000, with power to increase to $50,000,000. In our last number, we published the call for the meeting, at which the proposed institution bad its inception, and also briefly stated the proceedings of those present. The next step toward organization is now being taken, and, judging from present appearances, the bank will soon be under way.

Thus our country moves on in the new course marked out for us, financially. We pray that it may be a safe one. And yet we can but tremblc at the thought of a fifty million bank, and that bank only the head of perhaps fifty million others spread over the country. It is true, these corporations promise fair at present, and if in the future they continue to be guided by the present intentions of their instigators, their existence may not be regretted ; but if in after time these corporations come within the grasp of designing men, who would not scruple to wield their immense power for the furtherance of their own ambitious ends, or if they should degenerate into speculating machines, like the old United States Bank, while in the bands of Nicholas Biddle, or, worse still, if they become the creatures of some future administration, selfish and corrupt, can we appreciate, even, the evils that await us from this one cause ?

We learn from the Philadelphia Commercial List & Price Current, that the First National Bank of Philadelphia, on November 17th, increased its capital stock from $150,000 to $500,000, and purposes, at an early date, as soon as the business of the bank requires it, to make a further increase to $1,000,000. O. W. Davis, who resigned the position of President, in order to devote his entire time to the duties of his profession, still retains the position of director. C. H. Clark, of the house of E. W. CLARK & Co., bankers, has been elected in bis stead. The following are the directors of the Bank as now organized : C. H. CLARK, Jay Cooke, S. A. Caldwell, J. B. MOOREHEAD, W. S. Russell, E. W. Clark, O. W. Davis. The bank is understood to be mostly owned by the two well-known banking firms in in that city, E. W. CLARK & Co., and Jay Cooke & Co.

CONDITION OF THE BANKS OF NEW YORK ATE.—The following shows the aggregate of the resources and liabilities of the banks of the State of New York as exhibited by their reports to the Superintendent of their condition on the mornings of September 26, 1863 and June 13, 1863:

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